Lloyds chief: 'We must recast the banking model'

Lloyds Banking Group chief executive Antonio Horta-Osorio will call for banking reforms in a speech this evening.

Lloyds banking reform
Chief executive of Lloyds Banking Group Antonio Horta-Osorio. Credit: Hugo Philpott/PA Wire

In a speech to CBI Scotland, Mr Horta-Osório will say: "The industry must change. We must recast the banking model.”

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Lloyds boss: Banks must reform

The boss of Lloyds Bank has said the industry cannot continue lurching "from crisis to crisis". António Horta-Osório said it must break with the culture of the past, saying they had become “complacent, non-customer focused and inefficient.”